CONSUMER BEHAVIOUR and BUYING DECISION

The Buying Decision Process

Consumer behavior is the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants.

The factors which influence a consumer's decision are :

 Consumer Buying Decision Process:

There is a 5 stage model which a consumer should follow before buying any product. Here in case of 5 star some points may work some might not.

1. PROBLEM RECOGNITION :The process of buying a product gets triggered due to a reason. this can be triggered due to an external or internal stimuli. In India people generally prefer to eat sweet after every meal. So, a chocolate is the best option due to its long life and taste and since the cost of 5 star is very low even people with considerably low income can afford it in contrast to expensive sweets available in market.
2. INFORMATION SEARCH : Before buying chocolate of a particular type one must gather all the information about it. If one prefer chocolate,caramel and nougat so, other than 5 star available brands are Nestle Barone and Mars bar.
   
3. EVALUATION OF ALTERNATIVES : A consumer looks at 3 basic concept: a) Satisfy a need  b) looking for benefit and c) look for set of attributes. If we consider 5 star a consumer evaluates it in terms of taste,availability, value for money etc.
4. PURCHASE DECISION : In evaluation stage a consumer forms a preference to buy the most preferred brand. In case of 5 star it is a leading brand having better value of money and availability. But sometimes due to unavailability of the preferred brand consumer tend to buy other brand.
5. POST PURCHASE BEHAVIOR : After intensive research and purchasing the preferred brand consumer can either be satisfied or dissatisfied. If he satisfied it is likely that he will buy more of 5 Star and will recommend it to others but if dissatisfied he may discontinue to use the product and will move to alternatives available.